Palmer, Inc. purchased land with an existing building that it plans to tear down and then build a new building. In the first quarter, the following amounts were incurred: Acquisition of land $246,000 Architectural Fee 25,800 Lawn sprinkler system 2,500 Surveys and legal fees 12,300 Land clearing 11,800 Cost to tear down old building 10,900 Contractor charges for new building 88,000 Fencing 18,600 Material and labor cost for building 690,000 Install lighting and signage 1,900 A. $874,000 B. $814,700 C. $803,800 D. $734,400 Acquisition of land $246,000 Architectural Fee 25,800 Lawn sprinkler system 2,500 Surveys and legal fees 12,300 Land clearing 11,800 Cost to tear down old building 10,900 Contractor charges for new building 88,000 Fencing 18,600 Material and labor cost for building 690,000 Install lighting and signage 1,900 Parking lot 12,200 What amount should be recorded as the cost of the building in the corporation's books? O A. $874,000 B. $814,700 C. $803,800 D. $734,400 On June 30, 2024, Clooney Printers purchased a printer for $55,000. It expects the printer to last for four years and have a residual value of $2,000. Compute the depreciation expense on the printer for the year ended December 31, 2024, using the straight-line method. O A. $13,250 B. $13,750 OC. $7,729 OD. $6,625